$1.38 Billion Deal

Associated Press

Published 4:00 am, Thursday, May 11, 1995

Moving aggressively to create a pan-European financial powerhouse, Swiss Bank Corp. agreed to pay $1.38 billion for the investment banking business of S.G. Warburg. The cash deal will speed Swiss Bank's conversion from primarily a commercial bank to a global investment banking player, while dividing the two main branches of Warburg, London's top investment bank.